Metro announced that they will finalize taking over the Veropoulos supermarket chain in Greece next Monday, when the deal for the transfer will be signed. The transaction will make Metro a major player on the retail market in Greece with annual turnover of €1.5 bn and profits of up to €50m.
Metro chief executive Aristotelis Panteliadis said that as soon as the transaction is finalized, Metro plans to pay off all the debts of the Veropoulos chain, which are thought to amount to as much as €70m, and to start the modernization of the network.
Currently, the Veropoulos supermarket group operates throughout Greece with 220 stores. Of these, 91 are located in the Attica area.
